Laplace Interventional has secured $22m in a Series C financing round led by an undisclosed global strategic investor, to advance its transcatheter tricuspid valve technology.
Other participants in the financing round include Aphelion Capital, Engage Venture Partners, Unorthodox Ventures, JWC Venture, and Features Capital.
As part of the transaction, Aphelion Capital’s founding managing partner Ned Scheetz will be appointed as a member of the Laplace’s Board of Directors.
Ned Scheetz said: “Aphelion Cardeation, a venture fund formed to invest in innovative healthcare products, services and technologies that align with the mission of the American Heart Association, is proud to participate in this round of financing.
“We are inspired by Laplace’s innovative solution for TR and its potential to transform care for millions of patients worldwide.”
Laplace is a medical device company developing a minimally invasive transcatheter treatment for patients suffering from Tricuspid Regurgitation.
Its prosthetic valve, delivered via a minimally invasive procedure, eliminates the need for open-heart surgery and potentially reduces complications for patients.
The device is designed to enhance the quality of life for individuals diagnosed with Tricuspid Regurgitation (TR).
Laplace Interventional founder and CEO Ramji Iyer said: “This round of financing marks a significant milestone for the company and further validates our progress over the past few years.
“We are grateful to our patients, physicians as well as new and existing investors for their continued support and look forward to working towards starting a pivotal trial.”
Laplace will use the funds from the Series C round to complete the feasibility study both in the US and other territories and to progress towards a pivotal study.
Currently, the company has enrolled 22 patients in its US Early Feasibility Study (EFS) and 25 patients worldwide, yielding promising results.
Providence St. Vincent Medical Center medical director and structural heart interventional cardiologist Brandon Jones said: “So far, we have treated three patients in the Laplace EFS and all were discharged home within 1-2 days and are doing well.
“This was our first experience with a dedicated transcatheter tricuspid valve replacement platform and we are highly impressed with the intuitive deployment, imaging requirements, and overall ease of use of the Laplace system in a variety of challenging anatomies.”
